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Strategies & Market Trends : Classic TA Workplace
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To: patron_anejo_por_favor who wrote (51184)8/26/2002 12:56:06 PM
From: reaper  Read Replies (3) of 209892
 
one interesting thing to note in the NEW home sales data:

see page 2 of the release, near the bottom, for median and average sales prices in July. the MEDIAN price is in free-fall; it topped out at $191k in February and has since fallen to $171k (it was $186k last month); the average price is also falling.

census.gov

so the new home sales data is showing some cracks underneath the surface, even though the headline number is still quite 'bullish'.

i would note that the builders continue to be unable to muster much of a rally despite the continuous barage of 'good' news about the housing sector.

also note that the weakness in sales of higher priced homes is probably the worst at the margin for Toll Brothers (TOL). they report tomorrow morning.

Cheers
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